Forex Chart – Oct 13, 2015: NZDUSD, NZDCHF, GBPCAD

NZD/USD

This NZDUSD is sitting on the level that I personally marked as the daily resistance level. Previously, price on NZDUSD has formed rejection and go lower at this level, so it will be interesting to see what price will create at this level.

From here, I will watch closely if the price could break-off the resistance level and pullback to retest the level in the intra day time frame and go long. For the second option, if price creates an obvious bearish signal at the end of the day around the level, it would be nice to go short. But, I’m still prefer looking for the price to break-off the resistance level and go long since the price on NZDUSD seems on the bullish mood since mid-September.

NZDUSD daily chart

NZDUSDDaily-151013

NZD/CHF

Similar with NZDUSD, price on NZDCHF is on its way to the level that I marked as the daily resistance level. Price has made a strong move to the north over the last week and the next important level to be watch closely is the level that I marked below.

From here, I will watch closely if the price could break-off the resistance level and pullback to retest the level in the intraday time frame and go long. For the second option, if price creates an obvious bearish signal at the end of the day around the level, it would be nice to go short. But, I’m still prefer looking for the price to break-off the resistance level and go long since the price on NZDUSD seems on the bullish mood and break the previous resistance.

NZDCHF daily chart

NZDCHFDaily-151013

GBP/CAD

I have marked the important level that should watch closely on GBPCAD. In the past, the price has formed rejection at this level and in my opinion we should consider this level and wait for the signal around it.

GBPCAD daily chart

GBPCADDaily-151013

On the 4-hour chart below, we can see that price has been rejected this level with a nice bearish engulfing bar in the past. Will price reject this resistance level, form a double top and create an opportunity to go short? Or price just break-off the resistance level, retest the level again and create an opportunity to go long? I will wait patiently and see what the market will offer on this pair.

GBPCAD 4-hour chart

GBPCADH4-151013

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